Musk urged to balance Tesla leadership and DOGE involvement

Analysts at Wedbush Securities believe Elon Musk needs to focus on balancing his roles at Tesla and DOGE to improve the company's reputation. Dan Ives, a long-time supporter of Tesla, stated that Musk is the only one who can fix the current issues facing the electric vehicle manufacturer. Tesla is currently in what the analysts call a “brand tornado crisis.” This is largely due to negative reactions related to Musk’s involvement with DOGE, a government efficiency agency. As a result, Tesla shares have dropped over 40% this year. To help change the negative perception, Ives stressed that Musk should formally announce how he plans to manage both his positions. This announcement could help mitigate potential long-term damage to Tesla’s brand. The analysts also suggested that Musk provide a clear plan for the launch of lower-cost electric vehicles and details about the unsupervised full self-driving feature, which is set to debut in Austin in June. On Thursday, Tesla's shares fell again, declining by more than 1%. The company is experiencing slow sales in key markets like the U.S., China, and Europe.